Fijian Holdings Limited has announced it has amicably terminated the sale of its free to air TV station in Papua New Guinea.
In February a sale and purchase agreement was signed with Telekom PNG where the Fiji TV subsidiary would be sold to the Telecom PNG.
FHL CEO Nouzab Fareed announced both parties have agreed to part from the proposed transaction – this is due to dis-agreement over rights to broadcast NRL matches in PNG.
Fareed said the NRL rights in PNG is now owned by Digicel Pacific.
Meanwhile, Fijian Holdings Limited the parent company of Fiji Television Limited said that there is no redundancy plan for Fiji TV staff.
FHL Group CEO Nouzab Fareed said they are looking at ways to improve Fiji TV’s financial performance but redundancy will not happen.
“Then, I also said there is no redundancy plan in Fiji TV, But we have agree the number is too many so we are looking at ways for example we may have take some of the staff from Fiji TV to FHL group and if any staff is willing to go we will give some sort of assistance on redundancy plan the answer is no,” said Fareed.
Fareed added talks continues on what is best for Sky Pacific.
“With regards to Sky Pacific so that is in progress that to we have clearly said it is a potential partnership or diversement so that is because that they have clearly made a public announcement on that with regards to that,” said Fareed.